Kerala Sought Relaxation of FRBM Rules

On 28th March, Kerala Government urged the Centre to providerelaxationunder the Fiscal Responsibility and Budget Management (FRBM) Act so as to ensure that the State’s finances are not adversely impacted in the rest of the financial year starting on April 1st, 2020. In order to help fund the emergency relief package, the Kerala Government proposed to borrow nearly12,500 crore from the market in April, 2020.

Reasons for Seeking Relaxation

  • Given that the ongoing pandemic could be considered as a national calamity — which in conjunction with the ongoing lockdown to combat might cause a severe contraction in economic output — ....
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